Chicago, Feb. 9 – Generate Advisors, LLC priced $406 million in a collateralized loan obligation being issued by Generate CLO 14 Ltd./Generate CLO 14 LLC, according to a presale report.
The notes will mature on April 22, 2037.
The CLO consists of $248 million of class A senior secured floating-rate notes at SOFR plus 160 basis points, $56 million of class B senior secured floating-rate notes at SOFR plus 210 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 250 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 400 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 675 bps and $40 million of subordinated notes.
Generate Advisors, LLC will manage the collateral through the end of the reinvestment period on April 22, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 22, 2026.
Citigroup Global Markets Inc. is the placement agent.
Generate Advisors LLC is a subsidiary of Kennedy Lewis Investment Management LLC.
| Issuer: | Generate CLO 14 Ltd./Generate CLO 14 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $406 million
|
| Maturity: | April 22, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Generate Advisors, LLC
|
| Call feature: | April 22, 2026
|
| Pricing date: | Feb. 8
|
| Settlement date: | March 5
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 160 bps
|
|
|
| Class B notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 675 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40 million
|
| Securities: | Subordinated notes
|
|
|
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